China Mobile Games & Entnmnt Grp Price Target Cut to $31.00 by Analysts at Barclays (CMGE)
Barclays reduced their price objective on shares of China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) from $34.00 to $31.00 in a research note issued on Tuesday. Barclays’ price objective points to a potential upside of 104.08% from the stock’s previous close.
Shares of China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) traded down 1.58% during mid-day trading on Tuesday, hitting $14.95. The stock had a trading volume of 139,641 shares. China Mobile Games & Entnmnt Grp has a one year low of $11.00 and a one year high of $40.31. The stock has a 50-day moving average of $14.67 and a 200-day moving average of $21.44. The company has a market cap of $464.2 million and a P/E ratio of 32.39.
China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) last posted its quarterly earnings results on Monday, August 18th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.06. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.60 million. China Mobile Games & Entnmnt Grp’s revenue was up 281.4% compared to the same quarter last year. Analysts expect that China Mobile Games & Entnmnt Grp will post $1.33 EPS for the current fiscal year.
Separately, analysts at Brean Capital cut their price target on shares of China Mobile Games & Entnmnt Grp from $45.00 to $27.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock.
China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE) is a holding company.
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